Nevada Surplus Lines Foundation Awards $2.6 Million for Scholarships

The Nevada Surplus Lines Foundation has awarded a $2.6 million gift to bolster scholarship support for students at the University of Nevada, Las Vegas (UNLV). This significant funding will enhance the Nevada Insurance Agents and Brokers Scholarship Fund, assisting at least 180 juniors and seniors in the insurance and risk management program over the next three student cohorts.

UNLV's program, housed within the Lee Business School's Department of Finance, is the first of its kind in Nevada and among the few in the western United States. The inaugural cohort includes 46 students pursuing a Bachelor of Science in Business Administration with a concentration in Insurance and Risk Management.

The Nevada Surplus Lines Foundation has been instrumental since the program's inception, contributing to the establishment of the Kerestesi Center for Insurance and Risk Management. Beyond providing crucial scholarships and resources, the foundation's support has allowed students like Morgane Costa to secure future opportunities. Cole Fisher, another scholarship recipient, highlighted how the financial support enabled him to focus on his education and career goals.

The insurance industry is seeing a rising demand for skilled professionals, especially as many workers approach retirement age. Justin Manning, COO and co-founder of Swarts Manning Insurance, emphasized the increasing need for talented individuals, highlighting the evolving and rewarding nature of careers in insurance and risk management.

Students actively gain real-world experience through internships across several states, including Nevada, California, Texas, Washington, and Arizona. This practical exposure is crucial as they prepare for careers in underwriting, brokerage, claims, risk consulting, and compliance. Sebastian Kalandos, a student, noted the diversity of career paths after exploring topics like cyber insurance during his studies.

Students' varied backgrounds, from finance to international business, enrich the program, promoting a multifaceted approach to industry challenges. Costa expressed her interest in the intersection of law, markets, and regulation, while Fisher recognized the broad professional opportunities within the insurance sector. Scott Kerestesi, CEO of Cragin & Pike, described the industry as a vital component of the economy, impacting individuals' lives significantly.

This financial gift from the Nevada Surplus Lines Foundation not only alleviates financial burdens for students but cultivates an environment conducive to exploring potential career paths. Students, such as Fisher, benefit from reduced work commitments, allowing for greater participation in student organizations and educational opportunities. For more information about the Kerestesi Center for Insurance and Risk Management or UNLV’s insurance program, interested parties can contact Patrick E. Hanley, Sr. or John Starkey through their UNLV emails.